BASSETERRE, ST. KITTS, MAY 28TH 2012 (CUOPM) – The Citizenship by Investment Unit receives approximately 300 applications per year collects nearly EC$60 million in processing fees.

This was disclosed by Prime Minister the Rt. Hon. Dr. Denzil L. Dougas during the last sitting of the St. Kitts and Nevis National Assembly.

He said all applications that are received go through the rigours of the system established to ensure that only individuals who are worthy of becoming citizens of St. Kitts and Nevis do so.

“Mr. Speaker the Citizenship by Investment unit receives applications from all over the world. Our system is a robust and attractive one. We receive and process applications from the USA, Canada, China, the United Arab Emirates especially Dubai, Russia, Jordan, Yemen, Singapore, Taiwan, Germany, Egypt, South Africa, Saudi Arabia, Australia, Ethiopia, Ukraine, France, Kuwait, Vietnam, India, Nigeria, Lebanon,” he told the lawmakingbody.

Responding to questions from the Hon. Eugene Hamilton, the Member for St. Christopher 8, Dr. Douglas said the nature of the information required in part (c) of the question would take some time to analyze and the Citizenship by Investment Unit is in the process of fully computerizing its operations so that this level of information can be easily gathered.

“From these applications Mr. Speaker Government benefits mainly from processing fees which amounts to approximately EC$60 million per year,” disclosed Dr. Douglas.

*********************
DISCLAIMER
This article was posted in its entirety as published by CUOPM.